Shares of Livent Corp. LTHM, -3.09% declined in their public debut, after the lithium producer’s initial public offering priced below expectations. The first trade was at $16.25 at 10:05 a.m. ET for 1.99 million share, or 4.4% below the IPO price of $17. The IPO was expected to price at $18 to $20 a share. The company sold 20 million shares to raise $340 million. The shares of declined since the open, and were recently shedding 5.3%. The company has gone public at a time that the Renaissance IPO ETF IPO, +0.04% has lost 10.5% over the past three months while the S&P 500 SPX, -0.90% has gained less than 0.1%.

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Livent IPO: 5 things to know about the lithium producer

Livent Corp. shares fall in their market debut Thursday after the company’s initial public offering priced below expectations, but former FMC Corp. lithium unit now stands on its own amid a growing demand for the metal, used in rechargeable batteries that power electric cars and countless consumer products.

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